MIRA INFORM REPORT
|
Report Date : |
06.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
BECTOCHEM CONSULTANTS AND ENGINEERS PRIVATE LIMITED |
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Registered
Office : |
201, Ashok House,
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
21.05.2002 |
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Com. Reg. No.: |
11-135950 |
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Capital
Investment / Paid-up Capital : |
Rs. 30.000 Millions |
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CIN No.: [Company Identification
No.] |
U29297MH2002PTC135950 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMB14029B |
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PAN No.: [Permanent Account No.] |
AABCB7908G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and
Exporter of Pharma Machines. |
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No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (32) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 420000 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. The
management has failed to file its financial for the year 2010-2011, 2011-2012
with the government department. However, from the previous year record company seems to be having
satisfactory track record. Trade relations are reported to be fair. Business
is active. Payments are unknown. The company can be considered for business dealings with some
cautions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Ms. Kinjal |
|
Designation : |
Accounts Executive |
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Contact No.: |
91-22-28500008 |
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Date : |
05.07.2013 |
LOCATIONS
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Registered Office : |
201, Ashok House,
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Tel. No.: |
91-22-28500008 |
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Fax No.: |
91-22-28506785 |
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E-Mail : |
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Website : |
www.bectochem.com
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Location : |
Owned |
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Corporate Office : |
5C / 204, Mittal
Industrial Estate, Andheri – Kurla Road, Andheri (East), Mumbai – 400059,
Maharashtra, India |
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Tel. No.: |
91-22-28500008 /
2400 / 0057 |
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Fax No.: |
91-22-28506785 |
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E-Mail : |
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Website : |
www.bectochem.com
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Area : |
1000 Sq. ft. |
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Location : |
Rented |
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Factory 1 : |
Plot No. 4906/ 15,
GIDC Inustrial Estate Ankleshwar, District Bharuch, Ankleshwar – 393002,
Gujarat, India |
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Tel. No.: |
91-2646-221757/
222444/ 221999/ 239217 |
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Fax No.: |
91-2646-222444/
250714 |
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E-Mail : |
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Area: |
46,000 Sq. ft. |
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Factory 2 : |
Plot No. 80, PCNTDA, Bhosari, Pune -
411026, Maharashtra, India |
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Tel No.: |
91-20-30781208/ 1210 |
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Fax No.: |
91-20-30781209 |
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E-Mail : |
DIRECTORS
AS ON 27.09.2010
|
Name : |
Mr. Rajendra
Mohan Bector |
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Designation : |
Director |
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Address : |
201, Ashok House,
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Date of Birth/Age : |
10.10.1936 |
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Qualification : |
BE |
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Experience : |
50 Years |
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Date of Appointment : |
21.05.2002 |
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DIN No.: |
01041746 |
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Other
Directorship :
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Name : |
Mr. Prem
Rajendramohan Bector |
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Designation : |
Director |
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Address : |
201, Ashok House,
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Date of Birth/Age : |
05.08.1938 |
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Date of Appointment : |
21.05.2002 |
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Name : |
Mrs. Sangeeta
Alok Bector |
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Designation : |
Director |
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Address : |
201, Ashok House,
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Date of Birth/Age : |
11.09.1963 |
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Qualification : |
MBA |
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Experience : |
23 Years |
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Date of Appointment : |
21.05.2002 |
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DIN No.: |
01041749 |
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Other Directorship :
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Name : |
Mr. Alok Rajendramohan Bector |
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Designation : |
Director |
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Address : |
201, Ashok House, Rajendra Prasad Road, Juhu, Mumbai – 400049,
Maharashtra, India |
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Date of
Birth/Age : |
15.04.1964 |
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Qualification : |
B Com |
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Experience : |
25 Years |
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Date of
Appointment : |
21.05.2002 |
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DIN No.: |
02294385 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Ms. Kinjal |
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Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.09.2010
|
Names of Shareholders |
No. of Shares |
|
Rajendra Bector
Karta and Representative of R. M. Bector HUF |
225000 |
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Prem
Rajendramohan Bector |
825000 |
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Sangeeta Alok
Bector |
240000 |
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R. M. Bector |
1065000 |
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Alok
Rajendramohan Bector |
615000 |
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Mona Sanjiv Kalra
|
15000 |
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Sunanda Rajesh
Varma |
15000 |
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Total |
3000000 |
AS ON 27.09.2010
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
|
100.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and
Exporter of Pharma Machines. |
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Products : |
Granulation Line: Ø
Vibro
Sifter Ø
Auto
Coater Ø
Coating
Pan Ø
Paste
Kettle Ø
Fluid
Bed Dryer Ø
Multi
Mill Ø
Co –
Mill Ø
Double
Clone Blender Ø
Octogonal
Blender Ø
Tri
Motion Blender Ø
Fix
and Mobile Loader Ø
Washing
Systems Ointment Line: Ø
Oinment
Mixer Ø
Homogenizer Ø
Storage Liquid Line: Ø
Mixing
Tank Ø
Storage
Tank
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Exports : |
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Products : |
Granulation Line: Ø
Vibro
Sifter Ø
Auto
Coater Ø
Coating
Pan Ø
Paste
Kettle Ø
Fluid
Bed Dryer Ø
Multi
Mill Ø
Co –
Mill Ø
Double
Clone Blender Ø
Octogonal
Blender Ø
Tri
Motion Blender Ø
Fix
and Mobile Loader Ø
Washing
Systems Ointment Line: Ø
Oinment
Mixer Ø
Homogenizer Ø
Storage Liquid Line: Ø
Mixing
Tank Ø
Storage
Tank |
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Countries : |
African Countries
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Imports : |
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Products : |
Granulation Line: Ø
Vibro
Sifter Ø
Auto
Coater Ø
Coating
Pan Ø
Paste
Kettle Ø
Fluid
Bed Dryer Ø
Multi
Mill Ø
Co –
Mill Ø
Double
Clone Blender Ø
Octogonal
Blender Ø
Tri
Motion Blender Ø
Fix
and Mobile Loader Ø
Washing
Systems Ointment Line: Ø
Oinment
Mixer Ø
Homogenizer Ø
Storage Liquid Line: Ø
Mixing
Tank Ø
Storage
Tank |
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Countries : |
Ø
Germany Ø
USA |
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Terms : |
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Selling : |
L/C, Cash and
Credit [30-60 Days] |
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Purchasing : |
L/C, Cash and
Credit [30-60 Days] |
GENERAL INFORMATION
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Customers : |
Wholesalers and
Retailers Ø
Cipla Ø
Glenmark Ø
NATCO Ø
USV Ø
SANDOZ Ø
Alchem Ø
RESMED Ø
TARO Ø
M&B Ø
APPL Ø
Hindustan
Unilever Limited Ø
Cadila
Pharmaceuticals Limited Ø
Ranbaxy
Laboratories Limited Ø
Alchem Ø
USV Ø
Biochem
Ø
Reliance
Life Sciences |
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No. of Employees : |
200 (Approximately) |
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Bankers : |
Ø
State
Bank of India, Industrial Finance Branch, Sakinaka, Mumbai – 400072,
Maharashtra, India Ø
Navsarjan
Industrial Co-operative Bank Limited Ø
HDFC
Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel,
Mumbai-400013, Maharashtra, India Ø Bank of Baroda Ø ICICI Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institution : |
Ø Reliance Capital
Limited Ø Kotak Mahindra
Primus Limited |
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Auditors : |
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Name : |
Pankaj A Shah and
Company Chartered
Accountants |
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Address : |
3/1225-L, Narjivan
Commercial Premises, Co-operative Society Limited, Lamington Road, Mumbai –
400008, Maharashtra, India |
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Tel. No.: |
91-22-23074148 |
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Income-tax
PAN of auditor or auditor's firm : |
ABEPS6263J |
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Subsidiary : |
Ø Aahan Engineers Private Limited
[U29259MH1988PTC047853] |
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|
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Associates : |
Ø
R. A. Engineers Ø Bectochem Organics |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000
Millions |
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Note:
Out of above shares
1000000 shares are allotted as fully paid up shares by way of bonus shares,
previous year
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
30.000 |
30.000 |
30.000 |
|
|
2] Share Application Money |
10.000 |
10.000 |
10.000 |
|
|
3] Reserves & Surplus |
64.296 |
52.164 |
34.135 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
104.296 |
92.164 |
74.135 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
30.728 |
11.331 |
33.447 |
|
|
2] Unsecured Loans |
22.166 |
13.059 |
8.507 |
|
|
TOTAL BORROWING |
52.894 |
24.390 |
41.954 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.092 |
0.139 |
|
|
|
|
|
|
|
|
TOTAL |
157.190 |
116.646 |
116.228 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
37.124 |
40.109 |
40.649 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
15.338 |
15.338 |
15.338 |
|
|
DEFERREX TAX ASSETS |
0.287 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
122.329
|
46.582 |
44.835
|
|
|
Sundry Debtors |
124.159
|
136.011 |
129.151
|
|
|
Cash & Bank Balances |
2.648
|
3.939 |
12.217
|
|
|
Other Current Assets |
0.000 |
0.000 |
0.000
|
|
|
Loans & Advances |
31.544
|
67.425 |
56.342
|
|
Total
Current Assets |
280.680
|
253.957 |
242.545
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
137.615
|
114.923 |
110.549 |
|
|
Other Current Liabilities |
38.029
|
46.265 |
48.290
|
|
|
Provisions |
0.690
|
31.711 |
23.653
|
|
Total
Current Liabilities |
176.334
|
192.899 |
182.492
|
|
|
Net Current Assets |
104.346
|
61.058 |
60.053
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.095 |
0.141 |
0.188 |
|
|
|
|
|
|
|
|
TOTAL |
157.190 |
116.646 |
116.228 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
|
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
TOTAL (A) |
434.924 |
510.458 |
526.179 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
TOTAL (B) |
397.924 |
468.227 |
483.082 |
|
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
37.000 |
42.231 |
43.097 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
9.640 |
6.000 |
6.780 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
27.360 |
36.231 |
36.317 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
7.755 |
6.834 |
6.288 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
19.605 |
29.397 |
30.029 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
6.753 |
11.282 |
10.460 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
12.852 |
18.115 |
19.569 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
52.164 |
34.135 |
14.566 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
0.720 |
0.086 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
64.296 |
52.164 |
34.135 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
46.112 |
53.922 |
103.288 |
|
|
|
|
|
|
|
|
|
|
C.I.F. VALUE OF IMPORT |
14.925 |
13.925 |
13.974 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.28 |
6.04 |
10.00 |
|
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Sales Turnover (Approximately) |
830.000 |
700.000 |
600.000 |
|
|
|
|
|
Expected Sales ( 2013-2014 ) : Rs. 900.000 Millions
The above information has been parted by Ms. Kinjal (Accounts Executive)
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.95
|
3.55 |
3.72
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.17
|
10.00 |
10.60
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.32 |
0.41
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.51
|
0.26 |
0.57
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.59
|
1.32 |
1.33
|
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if
applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOANS
|
Unsecured Loans |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
|
|
From Directors and Shareholders |
22.166 |
13.059 |
|
Total |
22.166 |
13.059 |
CONTINGENT LIABILITIES [31.03.2010]:
(a) Estimated
Value of Contract remaining to be executed on Capital Account and not provided
for - NIL.
(b) Guarantee Furnished by Bankers Rs.23.384 Millions
i) Guarantee Furnished by Company to Bankers for the Loan procured by associates concern Rs.42.500 Millions
ii) Guarantee Furnished by Company to Bankers for the Personal Loan procured by the Directors Rs.16.000 Millions
(c) Claims against the Company not acknowledged as Debts - NIL.
Fixed Assets:
Ø
Computer
Ø Factory Premises
Ø Furniture and Fixture
Ø Motor Car
Ø Plant and Machinery
Ø Fax Machine
Ø Xerox Machine
Ø Gala No. 204/205
Ø Vacuum cleaner
Ø Typewriter
Ø Cranes
Ø Cycle
Ø Generator
Ø Motor Bike
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No exist to suggest that the property or assets of the subject are
derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair and
reasonable and comparable to compensation paid to others for similar services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 60.34 |
|
|
1 |
Rs. 90.79 |
|
Euro |
1 |
Rs. 77.81 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
32 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.